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Sumatera Selatan's Balance of Trade November 2023 Surplus US$315.32 million

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Release Date	:	January 2, 2024
File Size	:	1.09 MB

Abstract

EXPORT

The export value of South Sumatra in November 2023 reached US$464.65 million or decreased by 11.93 percent compared to exports in October 2023. Compared to November 2022, the export value decreased by 26.87 percent.

Non-oil and gas exports in November 2023 reached US$443.05 million, down 8.29 percent compared to October 2023. Compared to November 2022, non-oil and gas exports fell by 25.39 percent.

Cumulatively, the export value of South Sumatra from January to November 2023 reached US$5,971.06 million or decreased by 13.97 percent compared to the same period in 2022.

The largest share of exports in November 2023 was China at US$172.94 million, India at US$71.60 million and South Korea at US$28.93 million.

Cumulatively, South Sumatra's largest export value from January to November 2023 was aimed at China amounting to US$2,400.91 million, India amounting to US$663.33 million, and Malaysia amounting to US$430.81 million, with the contribution of the three reaching 58.53 percent. Meanwhile exports to ASEAN and the European Union were 22.89 percent and 3.05 percent respectively.

IMPORT

The import value of South Sumatra in November 2023 reached US$149.32 million, up 2.88 percent compared to October 2023, and up 198.80 percent compared to November 2022. I

November 2023 oil and gas imports were valued at US$2.75 million, up 47.04 percent compared to October 2023, and down 31.46 percent compared to November 2022. November 2023 non-oil and gas imports were valued at US$146.57 million, up 2.31 percent compared to October 2023, and up 218.90 percent compared to November 2022.

The three largest suppliers of imported goods from January to November 2023 are China US$514.75 million (52.24 percent), Malaysia US$71.16 million (7.22 percent), and Ivory Coast US$59.85 million (6.07 percent ). The import value from ASEAN in January-November 2023 was US$223.78 million (22.71 percent) and the European Union was US$111.82 million (11.35 percent).

South Sumatra's trade balance in November 2023 experienced a surplus of US$315.32 million, originating from the non-oil and gas sector of US$296.48 million, and the oil and gas sector of US$18.84 million.

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